Electric Vehicle, Battery & Charging News: GM, Controlled Thermal, MO Cobalt, Greenland

In electric vehicle, battery and charging news are GM, Controlled Thermal, MO Cobalt, Greenland Tech, Revel, Proterra, REE,Battery Resourcers, Honda, Turntide, EVgo, Porsche, BMW, Juice and Volvo Penta.

GM Declares Equitable Climate Action

GM Chair and CEO Mary Barra expanded on GM’s previous climate commitments, declaring the company would prioritize equitable climate action to help ensure its all-electric future is inclusive for its current and future workforce; customers; and communities that may be more likely to disproportionately experience the effects of climate change.

The company also announced the creation of a new $25 million Climate Equity Fund, dedicated to helping close equity gaps in the transition to electric vehicles and other sustainable technology. The philanthropic fund complements the company’s $35 billion global investment in EV and AV programs, research, technology, manufacturing and charging infrastructure.

“Climate change does not impact every community equally. As we move to an all-electric, zero-emissions future, it is on us to lead positive change and implement inclusive solutions that bring everyone along, especially our employees and communities,” Barra said during the Aspen Ideas Festival.

Barra also shared more about the company’s broader focus on equitable climate action, which is rooted in four key areas:

  • The Future of Work: The company reinforced the prioritization of its current salaried and represented workforce, including reiterating its long history of supporting unions to promote safety, quality, training and jobs for American workers. GM also publicly reiterated its support for the UAW’s efforts to organize employees at the Ohio and Tennessee Ultium Cells LLC battery cell manufacturing plants.
  • EV Access: The company will offer a wide selection of EVs across a range of price points, from the Bolt EV to the Cruise Origin shared autonomous vehicle. GM also recently announced programs leveraging its HYDROTEC fuel cells for rail and aircraft applications, which could help pave the way for communities to experience the benefits of zero-emissions mobility beyond the motor vehicle.
  • Infrastructure Equity: GM is committed to ubiquitous charging solutions that can help meet customers where they are. The company also understands the need to help address charging deserts and other scenarios that can hinder EV ownership.
  • Climate Equity: GM will help fund organizations that are closing the climate equity gap at the community level and across four key areas: the future of work, EV access, EV infrastructure equity and climate equity.

As the company works to address the key priorities under its equitable climate action framework, it will be guided by five principles:

  1. Make mobility safer, more accessible and more environmentally friendly for all.
  2. Incorporate and normalize equity considerations across our business operations and program implementation efforts, including workforce strategy, sustainability efforts, and products and services.
  3. Work with community-based stakeholders to identify their unique needs, assets and priorities as well as collaboratively assist impacted communities.
  4. Advocate for inclusive and equitable climate change, renewable energy and transportation-related policies at the federal, state and local levels to help ensure a sustainable mobility future for all.
  5. Help fund the organizations that are providing equitable access to a more sustainable future.

Climate Equity Fund

The company is accepting proposals for funding from its new Climate Equity Fund. Potential grantees are encouraged to submit proposals aligned to GM’s four climate equity social outcomes: future of work, EV access, EV infrastructure equity and climate equity. The company will prioritize grassroots organizations working at the community level.

GM Partners with Controlled Thermal Resources

General Motors has agreed to form a strategic investment and commercial collaboration with Controlled Thermal Resources to secure local and low-cost lithium. This lithium will be produced through a closed-loop, direct extraction process that results in a smaller physical footprint, no production tailing and lower carbon dioxide emissions when compared to traditional processes like pit mining or evaporation ponds.

Lithium is a metal crucial to GM’s plans to make more affordable, higher mileage electric vehicles.

The relationship between GM and CTR is expected to accelerate the adoption of lithium extraction methods that cause less impact to the environment. A significant amount of GM’s future battery-grade lithium hydroxide and carbonate could come from CTR’s Hell’s Kitchen Lithium and Power development in the Salton Sea Geothermal Field, located in Imperial, California. With the help of GM’s investment, CTR’s closed-loop, direct extraction process will recover lithium from geothermal brine.

As an anticipated part of its $35 billion global commitment to EVs and autonomous vehicles , GM will be the first company to make a multi-million dollar investment in CTR’s Hell’s Kitchen project. As the first investor, GM will have first rights on lithium produced by the first stage of the Hell’s Kitchen project, including an option for a multi-year relationship.

Batteries are and will remain one of the largest cost drivers of EVs. Lithium is a key battery material used in the cathodes and electrolytes of GM EVs like the Chevrolet Bolt EV and Bolt EUV. Lithium will become even more important in battery use as GM explores lithium metal batteries with a protected anode.

Most lithium used in lithium-ion batteries is currently mined and processed outside of the U.S.

The first stage of the Hell’s Kitchen project is expected to begin yielding lithium in 2024, helping GM to meet its aspiration of eliminating tailpipe emissions from light-duty vehicles by 2035.

GM Reveals Ultium Battery Strategy

General Motors is a global company focused on advancing an all-electric future that is inclusive and accessible to all. At the heart of this strategy is the Ultium battery platform, which will power everything from mass-market to high-performance vehicles. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Baojun and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, can be found at https://www.gm.com.

Missouri Cobalt Constructs New Facility

Missouri Cobalt, LLC (the “Company” or “Missouri Cobalt”) announced it is in the final construction stage of a new hydrometallurgical facility which will allow the Company to begin production of large-scale quantities of battery-grade cobalt and nickel. This milestone represents significant progress toward the Company’s objective to become the leading North American supplier of battery-grade cobalt and nickel, and the only company to process in the United States. Missouri Cobalt management believes this goal can be realized over the next two years as the new facility will quadruple current run-rate production volumes.

Missouri Cobalt is the only vertically integrated cobalt producer in North America and is strategically positioned to supply clean, domestic and ethically sourced battery metals required to meet the unprecedented demand for electric vehicles and lithium-ion batteries. The Company previously demonstrated its ability to consistently produce high-grade cobalt utilizing its pilot hydrometallurgical facility in Earth City, MO, which has been operational since 2020. It has been producing a cobalt-nickel-copper concentrate at its Fredericktown, MO facility since 2019.

Having completed an extensive drilling program that confirmed significant geological upside and expanded exploration potential, the Company has enlisted international and local experts for the development of its underground mine. Existing tailings and underground deposits are expected to yield total run-rate production of at least 5 Mlbs per annum of cobalt, 6 Mlbs per annum of nickel and 22 Mlbs per annum of copper by 2023.

Greenland Tech Funding Closed

– Greenland Technologies Holding Corporation (NASDAQ: GTEC) (“Greenland” or the “Company”), a technology developer and manufacturer of electric industrial vehicles and drivetrain systems for material handling machineries and vehicles,  announced the closing of an underwritten public offering with gross proceeds to the Company of approximately $7.0 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by the Company. The public offering equates to 857,844 of the Company’s ordinary shares at a price of $8.16 per share. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes.

The Company has also granted the underwriter a 45-day option to purchase up to an additional 15% of the number of ordinary shares offered in the public offering to cover over-allotments, if any, which would increase the total gross proceeds of the offering to approximately $8.0 million, if the over-allotment option is exercised in full.

Revel Reveals Fast Charging Superhub in NYC

Electric transportation company Revel opened its first electric vehicle (EV) fast charging Superhub to the public at the historic former Pfizer building in Bed-Stuy, Brooklyn. The Superhub is the largest universal EV fast charging depot in the Americas with 25 chargers, and is the first of a network of Superhubs planned by Revel across New York City. For the first week that the Bed-Stuy site is open, charging will be free to members of the public (through Tuesday, July 6th).

Prior to the opening of Revel’s first Superhub, there were only two publicly-available EV fast charging stations in NYC’s urban core. Most depots in the city are in further-flung…

Read More: Electric Vehicle, Battery & Charging News: GM, Controlled Thermal, MO Cobalt, Greenland